THE THINKING TRADER

OLYMPIAN THINKING

 

“I remember why I wanted to be a trader.  I figured that the easiest way to make money was to stand next to the cash register.” (TODD HARRISON via MINYANVILLE)

“Study after study has found that individual investors have a disposition effect — that is, they tend to sell winners too soon and hold on to the losers by refusing to recognize their failure.” (STEVEN DAVIDOFF via NYT)

“We are readily paralyzed by too many choices.” (ROBERT SEAWRIGHT via ABOVE THE MARKET)

“A trading journal is like a racing bicycle that allows you to get there sooner.” (GATIS ROZE via THE TRADERS JOURNAL)

“People don’t take the opposite side of your position because they are more or less certain about the future. It has nothing to do with uncertainty. It is all about differences in expectations, time frame of operation and market approach.” (IVAN HOFF via IVANHOFF CAPITAL)

“A little critical, analytical thinking is a good thing. Without doubting ourselves sometimes we’d find it difficult to make good decisions.” (JEREMY DEAN via PSYBLOG)

“Knowing the limits of your knowledge is the highest form of intelligence.” (JASON ZWEIG via WSJ)

“No matter what you do in life, you have to believe in yourself and maintain a strong state of mind…especially if you’re a stock trader.” (JOE FAHMY)

“Despite repetition, most people fail to become experts at what they do, no matter how many years they spend doing it. Experience does not equate to expertise.” (FARNAM STREET)

“Taking a big hit in your trading often sidelines you, either literally or (even worse) mentally. I know from experience! And while there are times to take a break in order to avoid doing further damage, at some point you still have to get back on the horse and overcome those doubts.” (JEFF WHITE via MONEYSHOW)

“For many traders, promising to follow rules doesn’t work for long.” (ANDREW MENAKER via POPDOC TRADER)

“One of the beautiful things about great practice is how simple it is.” (DANIEL COYLE via THE TALENT CODE)

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